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Unwitting second-hand car buyers are being chased for hundreds of pounds in debts owed on loans taken out by their car’s previous owner. Consumer groups have warned that some drivers raising finance with so-called ‘logbook loans’.
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Outstanding auto-loan balances in the U.S. reached a record-high $1.1 trillion in the second quarter, a 7.1 percent rise. Prime and superprime share, on the other hand, grew from year-earlier levels. Superprime loan and lease originations.
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Many of us prefer buying a second-hand car or a used car after obtaining. for a bank or the NBFC to process the documents and hand over the loan. A growing number of people are selling their cars to buy new cars these days.
This is because manufacturers frequently offer low-cost or interest-free loans on new cars. who buy second-hand or nearly new vehicles", says Lee Arnold, general manager of Motorpoint in Peterborough. "If you don’t mind being the.
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